Project

As part of a 25 year agreement with the Indiana Pacers, an NBA team based in Indianapolis, the Capital Improvement Board (CIB) has committed to  $320 million in improvements to Bankers Life Fieldhouse. The project includes updates to the Fieldhouse, fan experience and the construction of a public plaza (rendering right). In 2020 and 2019 BANs were issued in the amount of $31.4 million and $133.9 million to fund Phase 1 of the project. The BANS are secured by CIB's revenues including PSDA, Innkeeper's, Food and Beverage, County Admissions, County Auto Rental, and Cigarette tax revenues.  The BANS will come due in 2021 and will be taken out as part of a larger bond issuance to fund the remaining phases of the project.